Commercial Real Estate & Business News – March 7, 2024
Another Multifamily Shift: Less Call for Three-Bedroom Units There was noted heavy demand for more space during the heights of the pandemic. When offices and schools were closed, along with cafes, libraries, and other places that might offer a place to work or study, people looked for larger living spaces. That could be purchasing a […]
Commercial Real Estate & Business News – March 6, 2024
Taiwan Semiconductor Linked to $108M Apartment Sale Near Huge Phoenix Campus Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) has inked a lease agreement for an apartment community near its $40 billion semiconductor campus in north Phoenix. An entity tracing to Ideal Capital Group paid $108 million to an entity tracing to Houston-based real estate firm Hines […]
Commercial Real Estate & Business News – March 5, 2024
Here’s Why Metro Phoenix is Now The Biggest Data Center Hub in the Western US All of the big computers and related equipment that businesses rely on to manage their operations have to go somewhere, and they are increasingly being installed around metro Phoenix. Metro Phoenix now ranks first in the western United States and […]
Commercial Real Estate & Business News – March 4, 2024
Retail Vacancy Across Phoenix Drops to 40-Year Low of Less Than 5% Residents across Phoenix have flooded local stores, driving retail properties to their lowest vacancy rate in four decades. Overall vacancy in the Phoenix retail market has fallen to 4.8 percent, the lowest since the early 1980s, AZ Big Media reported, citing an analysis […]
Commercial Real Estate & Business News – March 1, 2024
Phoenix Inflation Slows Compared With Rest of U.S. After seeing the highest inflation rate in the country, Phoenix inflation has slowed compared with rest of U.S. and Phoenix inflation is also below comparison metropolitan areas. The Consumer Price Index for All Urban Consumers (CPI-U), often referred to as CPI, serves as an…» Multifamily Starts Predicted […]
Commercial Real Estate & Business News – February 29, 2024
Two Decades in the Making, Ritz-Carlton in Paradise Valley Expected to Open in ’24 The end to a nearly two-decade-long slog to develop a Ritz-Carlton resort hotel in Paradise Valley could be near, as construction on the hotel focuses on interior work and work on the hotel rooms and surrounding villas. At a projected $2 […]